Shares of Baffinland Iron Mines (BIM.TO) were up on Thursday, even as other iron ore juniors tumbled in the second day of trading after a C$4.07 billion ($4.1 billion) deal for miner Consolidated Thompson (CLM.TO) was announced. Baffinland is tied up in a bidding war between global No.1 steelmaker ArcelorMittal (ISPA.AS) and Nunavut Iron Ore, which is backed by private equity. The two companies have been courting the Canadian miner since September, seeking ownership of its high-grade Mary River iron ore project on Baffin Island in the Arctic.
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